Analysts Set Sirius XM Holdings Inc. (NASDAQ:SIRI) Target Price at $27.58

Sirius XM Holdings Inc. (NASDAQ:SIRI) has received a consensus rating of “Reduce” from the fourteen brokerages that are currently covering the company, Marketbeat reports. Five analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $27.58.

SIRI has been the topic of a number of research reports. Benchmark restated a “buy” rating and issued a $43.00 price target on shares of Sirius XM in a report on Tuesday, October 15th. Barrington Research lowered their target price on Sirius XM from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, December 13th. Bank of America reaffirmed an “underperform” rating and set a $23.00 price target on shares of Sirius XM in a research note on Thursday, October 24th. Guggenheim reissued a “buy” rating and issued a $30.00 price objective on shares of Sirius XM in a research note on Wednesday, December 11th. Finally, Morgan Stanley restated an “underweight” rating and set a $23.00 target price on shares of Sirius XM in a research report on Tuesday, September 24th.

Insider Transactions at Sirius XM

In related news, major shareholder Berkshire Hathaway Inc purchased 1,259,259 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were bought at an average price of $24.95 per share, for a total transaction of $31,418,512.05. Following the acquisition, the insider now directly owns 108,719,088 shares in the company, valued at $2,712,541,245.60. This trade represents a 1.17 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders have acquired 2,646,761 shares of company stock worth $65,952,329 over the last quarter. 0.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Coston McIsaac & Partners increased its position in shares of Sirius XM by 113.5% in the third quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock worth $27,000 after acquiring an additional 624 shares in the last quarter. TCTC Holdings LLC acquired a new stake in Sirius XM in the 3rd quarter valued at $29,000. Princeton Global Asset Management LLC raised its position in Sirius XM by 2,683.7% in the third quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock valued at $32,000 after purchasing an additional 1,315 shares during the period. Riverview Capital Advisers LLC acquired a new position in shares of Sirius XM during the second quarter worth about $35,000. Finally, Plato Investment Management Ltd acquired a new position in shares of Sirius XM during the second quarter worth about $35,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

Sirius XM Trading Down 3.1 %

Shares of SIRI opened at $22.10 on Friday. Sirius XM has a twelve month low of $20.47 and a twelve month high of $55.50. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $7.50 billion, a P/E ratio of -3.49 and a beta of 1.03. The firm’s 50-day moving average is $25.44 and its two-hundred day moving average is $28.19.

Sirius XM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were issued a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This is an increase from Sirius XM’s previous quarterly dividend of $0.27. This represents a $1.08 annualized dividend and a yield of 4.89%. Sirius XM’s payout ratio is -17.03%.

About Sirius XM

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company’s Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.